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Transitioning To An Ecosystem

Innovators and developers will be willing to formulate novel solutions and business models to enhance the ownership experience

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Over the last few years, software technology has been developing around the world, enhancing people’s lives. With evolving customer expectations, ongoing trends are mainly focused on digital transformation, in which cars are no longer only vehicles for mobility, but also an ecosystem of on-demand, in-car services.

Cars will be viewed as platforms rather than products in the future, paving the way for a lifetime of services to provide key differentiation to customers. As a result, innovators and developers will be willing to formulate novel solutions and business models to enhance the ownership experience.

Next Normal

Automated and connected vehicle technologies are one of the most intensively researched automotive technologies. Due to a major worldwide shift toward electric mobility and meaningful advances in computer power, artificial intelligence, and the internet of things, the potential of urban automobiles is ‘connected, electric shared, and autonomous vehicles’.

Significant waves already have been made in this segment, and the journey of connected cars has taken a positive turn. With the emergence of 5G, new interface points will emerge, opening up opportunities for the rapidly evolving ecosystem of innovators.

Changing the Experience

The automotive industry is witnessing a paradigm shift in its core with smart cars, with vehicles now becoming an ecosystem of on-demand, in-car services rather than a mobility asset. The services entail e-wallet and payment services, entertainment, utility, travel, gaming, security, insurance, parking, data, repair services, food delivery, and more. Each service ought to be accessible from within the car and add to the customer's convenience.

This evolving trend has provided new opportunities for carmakers and customers to personalise their vehicles to meet their specific needs. Vehicles are becoming smarter, safer, and more efficient as software technologies such as artificial intelligence and advanced driving assistance systems evolve. Even though the current technology is still in its early stages in the automotive industry, it will undoubtedly play a critical role in shaping the future of the Indian automobile industry.

Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.

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technology software technology Magazine 21 May 2022

Runa Alhawat

Head - Communication, MG Motor India

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